AMG & Associates Plans 210-Unit Affordable Apartment Development in Oakland with Estimated Development Cost of $80MM

Oakland, East Bay, AMG & Associates, AO Architects

By Jon Peterson

Apartment development proposals continue to advance through the East Bay. Encino, Calif.-based AMG & Associates is one of these companies, and it is proposing a new 210-unit apartment project in Oakland located at 10550 International Boulevard. The estimated development cost of the project is $80 million, according to plans submitted to the city. A traditional construction loan on the project will be arranged by the developer once it gets closer to the start of the project and the city approves the complex.

“It’s our belief that we should be able to start construction of our project sometime over the next 12 months. The development from start to finish should be wrapped up in a time period of 18 months if all things go according to plans,” said Alexis Gevorgian, president of AMG.

The site offers great connectivity and access to various transit options for its future tenants. “We think that this location is attractive, since it’s near transit. There are several bus stops near our property that would allow our residents to move around the city of Oakland,” said Gevorgian.

AMG has sent in an application for the project with the City of Oakland, and it is now going through the review process. City officials did not respond to a phone call seeking comment for this story.

The project designer is Orange, Calif.-based AO Architects.

Of the 210 residential units, all would be developed to be affordable. The development was also provided a density bonus. State law allows the developers to add one additional unit to the proposal, in addition to concessions provided as a result of the afforded group open space, two-inch window recess and frequent and prominent entrance requirement. There were also waivers provided for the rear yard setback, maximum building height, front yard setback, ground floor active space, ground floor transparency and parking and driveway location. The project was found to be eligible for the benefits afforded by California Senate Bill 35. This is a statute that aims to streamline housing construction in California counties and cities that fail to build enough housing to meet state-mandated housing construction requirements, and it hopes to address the California housing shortage by increasing the housing supply.

The main targeted audience for the project would be a combination of seniors and families. The units would include a combination of studios and one- and two-bedroom apartments. The main shared amenities for the complex are both senior services and a clubhouse to which all the residents would have access.

The new development is a six-story mid-rise project. There will be two units in the project set aside for the two managers of the apartment complex. The site presently has two existing one-story commercial buildings that will be demolished.

AMG is no stranger to the Oakland residential market. The company has done many other projects in the past in the city. The real estate firm is known as a provider of both affordable and market-rate residential projects throughout the state of California.

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